setup of a new company

Setup a new company

We will open Peachtree software by clicking on its icon.

Then after clicking on it a window is displayed.

After that we will click on “Set up new company” then a new window is opened.

This window has five points which will required or fill by us further, and if we don’t know about these we never proceed further, then we will click on “next” then a new window will be appeared.

This window contains different boxes of required information which we have to fill first. The first box is “company name” and so on. After completing all the information we will click on the icon “Next”. Then a new window will open.

From this new window we have to select a chart of account. This box contains five different chart of account, first one is to make our own new chart of account then second is to make new chart of account from a companies as a sample then the third option is to simply from any peach tree account and paste it, forth one is to convert a company from another accounting program which already exits, and we select last one and that is “build your own company” because we build our own company and then press the button “Next”. And new window will be appeared.

In this window we have to select accounting method that is which method is used for recording a transaction and we select accrual for our company then click on the “Next” button. And a new window is open.

This new window contains the posting method that when the record of balance sheet is to be changed when single entry is passed. The first one is “Real time” and is when the transaction is recorded this is applied to the records and second one is “Batch” it means we will applied these transaction after specified time. And we select “Real time” and then click on the “Next” button. A new will appear.

Then we will choose accounting periods, if we required a financial year of 12 months then select first one and if we want to expand our financial year from 12 months or want to decrease the months then we will choose the second one. So we choose the first one. Then we click on” Next”. And a new window is opened.

In this we will decide that from which month we start our fiscal year, it may be start from January and end on December and such forth. So we start our fiscal year from January. And the second is that which months you have select to enter your data first time, so we select March 2013 and then click on “Next” and a new window will be opened.

This window contains a message that "Congratulation" your setup of new company now completed.